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A USA Technologies BlogThu, 03 Jan 2019 23:10:05 +0000en-UShourly1https://wordpress.org/?v=4.3.173 Reasons Why Electronic Invoicing Improves Your P&L at OCS Accountshttps://www.usatech.com/blog/3-reasons-why-electronic-invoicing-improves-your-pl-at-ocs-accounts/
https://www.usatech.com/blog/3-reasons-why-electronic-invoicing-improves-your-pl-at-ocs-accounts/#commentsThu, 03 Jan 2019 23:04:46 +0000http://www.usatech.com/blog/?p=700Invoicing.Does this word remind you of the effort involved with reconciliation and resolution of dispute with clients? If it does, you are definitely not alone.Office Coffee Service (OCS) operators often siteInvoicingas one area of operations that they would like significant improvement in, and we bring to you the one step you can take to transform the way you invoice today:Electronic Invoicing. You may ask, how will electronic invoicing improve my P&L at OCS Accounts? Or, what revenue benefits will electronic invoicing bring to myOCS operations? Well, here are three prominent ways in whiche-invoicingwill contribute to your revenue and profitability:

#1. Reduced Time: If we take all of the tasks performed as a part of an OCS operations, invoicing is one of the most time-consuming tasks, if done on paper. We wanted to compare a typical OCS order cycle with paper invoicing versus an OCS Order cycle with electronic invoicing. We jotted down time taken for invoicing at all the relevant steps of the order cycle for both, and we found that time taken for invoicing could be reduced by 1/10thif we use electronic invoicing.

Here are 5 steps to an OCS order servicing process:

Customer places an order

OCS Team creates a pre-pick list based on the order

Order is then delivered to customer, and customer is required to sign every invoice associated with the order to authenticate delivery.

All Invoices pertaining to the previous month are batched together and sent to customers.

Reconciliation of any disputes regarding the invoice amount which could be queries from the customer’s end regarding order quantities, dates or product description.

If you refer to chart 1 below, you will observe that during step# 3, there would be a minimum of 5 minutes spent on getting every paper invoice signed. In order to perform step# 4, there would be a minimum of 45 mins to prepare to ship the paper invoices per month, and during Step#5, there would be a minimum of 7 mins to resolve any dispute with an OCS order. Assuming you get around 30 OCS orders a month, and only 5 among them have any dispute resolution associated with them, this would still mean a total time of 230 mins or 3.8 hours per month. Now, imagine if this was completely replaced withElectronic Invoicing. Refer to chart 2 and you would see how Step# 3 would take 10 seconds per e-signing of invoices on an iPad or iPhone, Step# 4 would take just 5 mins to attach and send one email containing all invoices for the month. It is also evident that Step #5 would take 2 mins per invoice to resolve any disputes, since date of transaction, and digital signatures provide a lot more credibility to the OCS operator. Given the same number of OCS orders serviced with electronic invoicing, the total time taken per month would be 20 mins. Compare this with 230 mins taken by paper invoicing. This implies an almost 91% reduction in time taken for invoicing OCS orders.

#2. Improved Accessibility:Trying to find invoices from months ago, that an OCS Client might be referring to, could pose a nightmare situation of digging through tons of paper, if you were still using paper invoicing. But with e-invoicing you can record invoices digitally and view them in one accessible, easy-to-manage location. You can search by date or customer name or even the order number to find precisely what you are looking for. Now, wouldn’t that help immensely when you are on the phone with a big account and trying to find their billing amount for the last two quarters?

#3. Reduced Cost:If you refer to Chart 1 again, you would see how there is a significant reduction in labor required through the OCS order cycle, and particularly in Steps #4 and 5. With e-invoicing, you may no longer need one person to manually fill in the envelopes and deliver them. Nor would you need more than one person to resolve OCS order concerns with the client on the phone. You don’t have to worry about losing invoice slips anymore, and the e-signed invoices would build credibility with your customers. You can even save on ordering copier paper and stamps with e-invoicing. Isn’t that a cost-effective and convenient alternative to paper invoicing?

In summary, the benefits to electronic invoicing far outweigh the cost or time taken to implement it. It will not only help boost your employee retention but will also help improve the customer experience. Your OCS customers will definitely appreciate the convenience and transparency that e-invoicing can provide them on all their orders If you would like to transform your OCS operations with the capability of electronic invoicing, fill out the form below and one of our USAT representatives will reach out to you shortly:

]]>https://www.usatech.com/blog/3-reasons-why-electronic-invoicing-improves-your-pl-at-ocs-accounts/feed/0Money20/20 Recap: The Future of Money is Nowhttps://www.usatech.com/blog/money2020-recap-the-future-of-money-is-now/
https://www.usatech.com/blog/money2020-recap-the-future-of-money-is-now/#commentsTue, 20 Nov 2018 20:43:45 +0000http://www.usatech.com/blog/?p=691For years, Money20/20 has hung its hat on defining what the financial industry considers to be the “future” of money. For most of the recent past, this has encompassed themes such as increasing consumer adoption of new digital currency and mobile wallets, or emerging ecosystems linked to any form of online payments, and even hypothetical or newfangled technologies that could keep transactions and consumers safe and secure. And just as topics such as bitcoin, Apple Pay and facial recognition were starting to feel a bit dusty… the conversation flipped.

This year’s Money20/20 was inspiring, as it showed what an industry can do if it sticks to its knitting. Rather than another year of hypotheticals, this year’s conversation was driven by a groundswell of actual traction. Education sessions didn’t focus on introducing new technologies (entirely), but rather honed in on best practices, revealing real and actual impact and trend analysis of how these technologies are being used and making a difference today.

While nobody is over the finish line yet, it was exciting to see the industry move from mystery to this more revelatory phase. For example, consider how technology supporting digital payments has matured: when Apple and Google first entered the mobile wallet space there was a flurry of new technology and apps as everyone jumped in with their own version of mobile payments. Now, we’re seeing more fintech and banks start to embrace the mantra, “if you can’t beat em, partner!” Think Chase Pay’s integration with Samsung Pay. This consolidation is being driven by consumers that prefer more payment options in the wallets they prefer – not more apps. We’ll likely continue to see the consumer-centered momentum, particularly on the part of larger companies who are late to the party or a bit less agile than their start-up peers.

The self-serve retail conversation was no different, as we evolved our focus from implementing digital payment technologies, to scaling them – and seeing the benefits of driving that adoption. What’s next? Creating an engaging consumer experience around purchase, rather than simply removing friction to encourage consumer use. Themes such as AI, biometrics, targeted communications, personalized offers based on purchase history and tons about how Big Data is making retailers smarter were all on the table.
As these self-serve retail technologies have emerged from what we knew as traditional vending machines, to sophisticated kiosks and pop-up store fronts, retailers – big and small – are beginning to realize the opportunities that self-service retail locations represent for expanding reach, enhancing brand presence, and reducing cost. By bringing goods and services to where people live, work and play – and investing in the right technology platform – retailers can enable a personalized experience on-par with the personal touch a shopper gets in-store, with varied digital payment and loyalty options that encourage sales and stickiness.

Here are a few key takeaways from Money20/20 that connect directly with self-serve and unattended retail.

– Self serve retail makes it easy for business to decrease operational costs through an interconnected ecosystem that enables them to scale.

– Turn-key services that include digital payments like credit cards and mobile wallets must integrate a loyalty program platform for rewards and communications, and rest on a cloud-based software system for logistics, warehouse management, merchandising and more.

– As retailers grow or move into new channels, they are looking for technology partners who enable them to stay ahead of the curve and intuitively provide them with all the services they need to run a successful unattended business — starting at the point of sale.

– Self-service provides retailers with an inexpensive option to create a retail footprint without the costly investment of a storefront, and enables them to extend their online presence to where consumers are.

As leaders in the self-serve, unattended retail industry and nearly a million connections to our payment platform, our end-to-end solution also includes everything a business would need to implement cashless payments as well as back-office efficiency software for generating additional revenue and managing the machines/kiosks in the field. Of course, with unattended retail, security is paramount. USAT is PCI level-one secure and is monitoring new security features becoming more widely available on the market to see which are being most readily adopted by consumers and other retail channels. In addition, the banking/fintech collaboration represents a smart move towards partnering rather than replicating technology or services that already exist.

As more consumers and businesses continue to expect digital payments, self-serve and unattended options at point-of-sale, being able to weave an intricate web that starts at the purchase point, capturing data in a way that drives greater efficiency and cost savings while driving back to consumers with a more personalized experience is the future of retail. We’re excited to be at the helm of such an important evolution – and look forward to continuing to drive industry change and innovation for yet another year.

If you’d like to stay ahead of the curve on cashless payments and customer experience, fill out the form below and we’ll reach out to you:

]]>https://www.usatech.com/blog/money2020-recap-the-future-of-money-is-now/feed/05 Must-Do’s to Improve the Customer Experience in OCShttps://www.usatech.com/blog/5-must-dos-to-improve-the-customer-experience-in-ocs/
https://www.usatech.com/blog/5-must-dos-to-improve-the-customer-experience-in-ocs/#commentsTue, 13 Nov 2018 01:02:24 +0000http://www.usatech.com/blog/?p=686You are only as strong as your morning coffee. Is this your life motto? While it may be what kick starts our day, coffee has certainly expanded from a drink to an experience. Customers expect more from their morning coffee than ever before and these trends don’t seem to be slowing down.

While we talk about millennials often, and they have certainly created trends around how we eat, millennials aren’t saying no to a cup of coffee each morning, but are saying yes, to how they experience that coffee. So how do you bring an experience to the break room where you offer office coffee services? Well, by following these steps you can easily go from a cup of Joe to a cup of experience for your customers!

#1. Understand the sourcing model:

Millennials specifically are a conscientious audience and look to consume ethically. According to a Nielsen survey published in 2015, 66% of consumers are willing to pay more for ethically-sourced and sustainable products – up from 55% the year before. This trend is going nowhere so you might as well get on board the train! Offer information about the coffee brand you choose and make sure it is one that cares about its people and its quality of product.

#2. Throw out the powder creamer and offer milk alternatives:

Look, no one likes putting powder creamer in their coffee. Worldwide, the market for dairy-free milks is set to reach $16.3 billion in 2018 – over double its $7.4 billion market share in 2010. * We are not saying go stock all your accounts with diary-free milk, but we are saying consider offering milk alternatives so that consumers can customize their coffee drinks as needed.

#3. Cold-brew coffee will continue to grow:

People want things faster than ever before, but they don’t want to lose quality or good flavor in the midst of convenience. Cold-brew sales are booming: in 2017, sales of cold-brew grew by 80% in the United States. * This is an easy offering for you to add into your product mix. What better way to get a premium item in your vending machines that will sell, along with just offering into your product mix in micro markets.

#4. Personalize the customer experience:

Consumers are not only aware of what’s in their cup but what the cup is made of. What better way to create a customized experience to your coffee services than offering the client customized coffee mugs for employees to use instead of paper or plastic. Or even selling to-go mugs in your markets or to your client directly with their company logo on it. Make it personal and make it sustainable!

#5. Compete with cafes and create an experience in the break room:

Cafes create an experience beyond just selling coffee. Some offer wifi and others have comfortable seating for consumers to hang out and enjoy the workspace or casual hang out. How can you work with your client to help enhance the entire break room experience?

So, the real question is, do you want to stay back and just offer a cup of joe, or do you want to create an experience and grow your office coffee services with every client? It is always cheaper to sustain an existing customer and get them to spend more than it is to go out and acquire a new one, so consider some of these ideas to constantly evolving your coffee services!

If you are interested in learning how Seed Delivery can help you serve all your vending and office coffee service accounts easy, fast and convenient please click on the link below to learn more or inquire so one of our sales team members can assist in seeing if Seed Delivery is a good fit for your business! Learn More on Seed Delivery here.

If you’d like to streamline your OCS operations and would also like to improve customer service at your OCS locations, fill out the form below and our representative will reach out to you.

]]>https://www.usatech.com/blog/5-must-dos-to-improve-the-customer-experience-in-ocs/feed/0The Future of Payments : Goodbye Cash, Hello Virtual Payments!https://www.usatech.com/blog/the-future-of-payments-goodbye-cash-hello-virtual-payments/
https://www.usatech.com/blog/the-future-of-payments-goodbye-cash-hello-virtual-payments/#commentsTue, 16 Oct 2018 20:58:52 +0000http://www.usatech.com/blog/?p=677Remember the old saying, “Cash is KING?” Well, we are in a time where cash is really no longer king anymore and things like credit or debit cards, digital wallets and even apps are taking over the ways in which consumers pay today. If anything, cash has become a pain to deal with, regardless if you are a consumer or a retailer. While cash may not completely go away in 5 years, it certainly may be on the road to extinction when we look at the new cutting-edge technologies that could be reality in the foreseeable future.

Let’s first take a look at the facts. In a 2017 survey, payment processor TSYS asked over 1,000 consumers which payment form they preferred. The study found that 44% chose debit cards, while 33% selected credit cards, and only 12% specified a preference for using cash.* Now if we see what is happening in vending today, we will notice that cashless is continuing to climb the charts in how consumers are paying in unattended retail terminals. In an internal study of over 250,000 terminals, we found that after just the first 12 months a cashless device was installed on a machine that total top line sales grew 23%, then after 18 total months it was at 35%, and today we are seeing 43% of top line sales growth is attributed to cashless.

So why is this happening? Well, there are two sides of the coin to look at here, the retailer or unattended retailer and the consumer. First, cash is risky for anyone who owns a vending machine or a restaurant. Retailers across the globe are seeing that if you eliminate cash, you can eliminate risk in your business. How, you might ask? It’s easy, when you eliminate cash, you eliminate:

1. Employee Theft

2. On-Hand Coin Inventory

3. Fraudulent Refunds

4. Counting Money

5. Coin or Bill Jams

6. Robbery Risks

Businesses all across the world are seeing the positive impact of removing cash that even some restaurants have signs up that say, “No Cash Accepted.”

Now let’s look at the other side of the coin, this shift in payments is also happening because of consumers. Technology gives consumers options and they prefer to pay with faster, easier and more convenient methods of payment. People now pay in a person to person relationship, so whether they are paying their friend through an app, Venmo, or bank text options. People also pay in a people to service relationship, this includes debit or credit cards, mobile wallet, NFC contactless, and even virtual currency.

So, what will payments look like in 5 years and why should you pay attention now? Payments will continue to evolve and while some of these ideas may seem crazy, they are already happening. It’s time to buckle up and prepare for what could be the new ways consumers choose to pay. Here are some ideas to consider:

1. Identity Based Payments

2. Thought Based Payments

3. Pay in Your Vehicle

4. Pay in Your Home Through IOT Devices

5. Experiential Technology

6. Cryptocurrency

7. Wearables beyond your watches like shirts, shoes, etc.

So, what can you do today? Install cashless on all your machines. Stop waiting, and just do it. The proof is there, it works on every machine regardless if it is low volume or not, and it more than pays for itself when you look at the ROI.

What can you do tomorrow? Ensure you accept and promote to consumers mobile wallet options at your unattended retail terminals. They don’t know you accept it if you don’t tell them. Know your audience and then communicate accordingly.

What can you do to prepare for the future? Unattended retail continues to grow both worldwide and in the United States. Our industry is only expanding so stay innovative, listen to your consumers, and be prepared to always invest in technology.

It’s time to ask yourself the real question, “When will you stop accepting cash?”

If you are interested in future-proofing payment systems at your unattended retail locations, fill out the form below and our representative will reach out to you to explain how you can stay ahead of the curve:

]]>https://www.usatech.com/blog/the-future-of-payments-goodbye-cash-hello-virtual-payments/feed/0USA Technologies is Headed to CES – Join Us!https://www.usatech.com/blog/ces-2018/
https://www.usatech.com/blog/ces-2018/#commentsMon, 08 Jan 2018 19:45:56 +0000http://www.usatech.com/blog/?p=654The USAT team is excited for CES (Consumer Electronics Show) — the world’s largest consumer electronics expo in Las Vegas January 9-12, 2018, and we have some fun things in store! The team will be on hand to offer insight into the future of retail by discussing the many innovations self-serve retail has demonstrated in the field, such as blending the advantages of M2M technology and AI into their point-of-sale strategy. This capability will be demonstrated on-site through a fully loaded ShelfX smart frig. Better yet, several USAT thought leaders will be speaking at a number of not-to-miss events! Below is the schedule.

In Vegas or attending the show? Reach out to schedule some time with the team at Marketing1@usatech.com.

We will also be showing off the latest in AI and personalized self-serve retail technology. Stop by the Retail Innovation Lounge to see a demo of the ShelfX Unattended Smart Fridge and USAT’s technology at work.

Don’t miss the High Tech Retailing Summit: An event that explores future technology in retail like check-out registers that know what’s in your cart, body scanners that reveal what flatters you best, and in-store technology that lets you test skis on the slope without leaving the store. Join: Maeve McKenna Duska, SVP of Marketing and Strategic Development for USAT for the panel: Experiential Shopping – A New Breed of Shopper is Looking for Experiences as Much as Things.

The “I” in “IAAPA” could stand for imagination. At this year’s exposition, vendors from across the world appealed to the imagination of attendees through their rides, games, and machines, from roller coasters to virtual reality. One of our USA Technologies team members who attended the IAAPA Attractions Expo 2017 with me said it rivaled Disney World in its opportunities for fun. He’s right.

Among this land of wonder, I noticed that there is a great deal of money that could be made in the amusement industry through the adoption of cashless payment technology. As a supplier to amusement vendors, I would like amusement operators to imagine all the payment possibilities they might make available to their customers. Think of all the potential consumers who walk by those machines every day without cash in their pocket. What do these consumers have in their pockets? If not a card, they are sure to have a phone.

According to a 2016 Premium Report on Amusement Arcades, coin-operated games and rides account for more than 40 percent of total sales in the amusement industry. If operators invested in cashless payment options, that percentage would very likely rise. Imagine all the new and repeat customers you might have if you enabled all types of payments on your rides, games, and machines. Try seeing your business through the eyes of your customers, and imagine how you, as an amusement operator, could provide more opportunities for fun.

When I walk up to a skee ball machine in an arcade, I don’t want to play just one game. Rather than repeatedly feeding cash into the machine, I would much prefer to swipe my credit/debit card, or tap my mobile phone, to play a few times in a row. In fact, you could easily hook me with an offer to play three games for a discounted price should I pay via a cashless option. When you make it easy for me to pay, I am very likely to spend more, more often. USAT company data backs up my preference for cashless payments in this scenario—information collected from 600,000 machines enabled with our cashless payment technology reveals that consumers spend 32 percent more with cashless payments.

The consumer’s relationship with money has changed and continues to evolve. We want to help amusement vendors leverage the trends we see in the market and stay ahead of new payment technologies. Game on!

]]>https://www.usatech.com/blog/iaapa/feed/0THIS IS BIG….. How USAT’s Purchase of Cantaloupe Systems Will Create the First Holistic Enterprise Platform in Unattended Retailhttps://www.usatech.com/blog/this-is-big-how-usats-purchase-of-cantaloupe-systems-will-create-the-first-holistic-enterprise-platform-in-unattended-retail/
https://www.usatech.com/blog/this-is-big-how-usats-purchase-of-cantaloupe-systems-will-create-the-first-holistic-enterprise-platform-in-unattended-retail/#commentsTue, 07 Nov 2017 11:44:46 +0000http://www.usatech.com/blog/?p=403We are thrilled to announce that we have signed an agreement to acquire Cantaloupe Systems, long recognized as a like-minded innovator bringing smart and effective intelligence software to the vending, micro markets, and office coffee service industry. The acquisition enables us to combine Cantaloupe’s award-winning Logistics and vending intelligence technology with our market-leading payment platform to bring the most powerful, holistic enterprise platform the unattended retail market that has ever seen. The acquisition is expected to be complete later this week.

Our industry is at a unique advantage because, in our world, it has always been about providing goods and services aligned with consumer preferences and convenience – including how they pay – making unattended retail a hotbed of technology innovation and growth. This has powered the evolution of the industry well beyond vending machines to include everything from ordering kiosks for Starbucks coffee to key cutting machines at Home Depot as we couple the right buying experience with the right technology.

As the leader in cashless and mobile payments technology in self-serve and unattended retail, we at USAT have made it our personal mission to drive innovation. Whether it’s connecting the industry’s first loyalty program (More.) with Apple Pay, or launching the most advanced interactive media, content delivery system, and touchscreens for the self-service retail market (ePort Interactive), USAT is committed to leading the industry forward, anticipating the needs of consumers, and enabling our customers and partners to reap the rewards of greater efficiency, higher spend and better margins.

USAT has long been known to be the best in the business at increasing top line sales through innovation but recognized that another critical element needed stronger focus: cost reduction.

Our acquisition of Cantaloupe combines the strength of two industry leaders into one advanced and comprehensive enterprise solution that benefits our combined customer base and perfectly aligns our companies to move the industry forward yet again.

Here are a few benefits customers and partners will see through the acquisition:

Complimentary platform: The Cantaloupe product line has powerful synergies with USAT’s market-leading ePort® Connect Platform. It’s Seed Cloud™ is comprised of Seed Pro, Seed Office, Seed Cashless, Seed Delivery and Seed Markets. These solutions provide cloud and mobile solutions for dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management. The collective technologies allow for decreased operational costs, increased sales, and the ability for customers to run their business in a more efficient and competitive way.

International and vertical expansion: The acquisition will enable the combined companies to drive mainstream adoption of their technology and execute on USAT’s product vision in vending and well beyond. With operations in the US, and now adding Canada, Australia, and Mexico, Cantaloupe’s existing customer base expands USAT’s footprint into new global markets. In addition, with this new technology, we will be in a great position to develop platform enhancements for markets beyond vending, such as kiosks, parking, laundry, and entertainment.

The customer experience: Data is key to success for any company today, coupled with services and support. The collective technologies allow us to provide customers with a much more streamlined experience with access to rich and actionable data. Our enhancements to the premier services and MORE programs will give our customers the ability to engage with consumers in the moment at the point of sale, with product-specific promotions or recommendations, as well as help provide better experiences between brands and consumers.

We are thrilled to have Cantaloupe on board. Together we will reshape and map how the retail industry overall adapts to the new, consumer-driven retail environment through unattended, cashless technologies. We look forward to continuing to lead the evolution and welcome you to join us for the ride.

]]>https://www.usatech.com/blog/this-is-big-how-usats-purchase-of-cantaloupe-systems-will-create-the-first-holistic-enterprise-platform-in-unattended-retail/feed/0Money 20/20: Reimagining Payments & Commerce in the Internet-of-Everythinghttps://www.usatech.com/blog/money2020/
https://www.usatech.com/blog/money2020/#commentsSun, 22 Oct 2017 17:56:25 +0000http://www.usatech.com/blog/?p=631Imagine you’re in an airport waiting to catch a flight and you realize you forgot to pack your toothbrush.Before getting too aggravated, you remember passing a drugstore kiosk on your way through the terminal. You go back to that kiosk, select a toothbrush, scan the item, and then use your fingerprint to pay and authenticate the digital transaction. The entire experience takes just a minute.

This scenario illustrates a transformative new business model that traditional brick-and-mortar retail companies are trying to unlock, but that self-service retail companies have already figured out: how to bring the right product to the consumer at the right time and with the right payments technology to capture the sale.

As the industry vanguard driving cashless adoption in self-serve and unattended retail for more than 15 years, USA Technologies have been at the helm of industry transformation, enabling our operators to evolve along with the needs of rising digital natives.By networking assets in the field and developing the infrastructure for cashless payments, including mobile wallets, USA Technologies has made it possible for retailers to tap new revenue streams that engage the consumers in the moment, at the point of sale, through promotions and rewards, encouraging higher spend at each visit. These now-networked machines also become a treasure-trove for Big Data, giving retailers a virtual view into consumer spending patterns and product preferences.

Now, we are building upon next-generation loyalty and rewards programs to integrate gamification, artificial intelligence, predictive analytics, and more. Imagine a machine that already knows what you want, before you get there?

I’ve often called the unattended retail market the “gateway tap” for mobile payments adoption –and it’s driving adoption of mobile payments everywhere. Consumers get comfortable attempting their first mobile payment in a stress-free, unattended environment and then proceed to continue using mobile payments in any retail setting. As a speaker on the Money 20/20 panel, “Everything Pay:Reimagining Payments & Commercein the Internet-of-Everything,” on Tuesday 10/24 at 4:10pm, I will discuss the future of cashless commerce – whats driving it, and what opportunities its driving – and give a live demonstration of new technologies that foretell the future of unattended retail.

The panel will also discuss how cashless payments are tapping into the Internet of Things through machine-to-machine communication.For example, how data gathered about a coffee kiosk running low on cups or a photo booth running low on paper can alert the warehouse and automatically ensure the machine is restocked during the next visit.These capabilities are happening right now, and saving our operators and their clients valuable time, and contributing to increased margins.

I invite you to join us at Money 20/20 to learn more about how unattended retail is driving technology innovation, priming consumers for adoption and paving the way for the future of retail.See you in Vegas!

Today’s interview is with Cory Hewett, the CEO and founder of Gimme Technologies, the creator of an innovative vending technology solution that gives vending executives better sales, inventory and service data.

Q: Tell us about Gimme? Where did the name come from?

Gimme is a technology company that builds award-winning iPad apps, cloud applications, server integrations, and patently unique wireless hardware for the businesses that run and refill unattended retail points of sale. Our name reflects what our customers and their customers demand: speed and convenience. Gimme is “fast-speak” for give it to me now and that’s what our total solution enables: quickly allowing the end customer to always get what they want from a vending machine, coffee machine, or micro-market by making sure each of those points of sale is visited on-time with the right products in the right quantities.

Our plug-and-play solution replaces legacy hardware and software, like the old guitar-jack data transfer “DEX” cord and Motorola PDA driver software, with 100% wireless solutions that run beautiful and human-factor optimized software on the newest tablets and smartphones. This translates into faster employee training, fewer input error mistakes, more POS serviced in a day, and fewer stock-outs and SKU-outs. Our hardware is plug-and-play into the POS hardware already in the field today. It creates a secure wireless connection that our apps and cloud can connect to. Those in turn integrate with the existing vending management systems “VMS” and warehouse management systems “WMS” an operator or bottler is already using.

The vending industry is the first step of many into the larger industry of unattended retail. Gimme’s vision for the future is building the technology makes unattended retail a reality. We see the most important part of that vision to continue building tools that are simple to use and fast to master.

Q: What was the genesis for the idea?

Customer empathy is the origin behind Gimme. 10+ years of vending experience starting back in high school when I operated my own small route of 26 vending machines led me to meet with and learn from larger operators who struggled to successfully implement and use the limited technology tools available at the time.

First thing, I ran with the idea and convinced my very smart friend, and recent Georgia Tech graduate, Evan Jarecki to help develop the technology and co-found the business. We interviewed over 200 vending operators and their drivers to learn exactly what their pains and needs were, before crafting Gimme into the award-winning technology it is today.

Q: How is your business doing?

Since launching in 2014, learning and building in 2015, and starting sales in 2016, we’ve gone from “Georgia Tech students” to a funded startup, with a patented solution, brand-name customers, Federal-court upheld IP, and substantial traction. We have some of the nation’s largest independent vending operators and bottlers online and active with our solution today with a footprint that is now coast-to-coast. We’ve twice been named Top 40 Most Innovative GA Tech Company, the 2017 “Pros to Know” and 2016 “Product of the Year” by Vending Market Watch, a 2017 Gold and Silver American Business Award winner, landed a major licensing deal with Cantaloupe Systems, and formed an alliance with public company USA Technologies.

Q: What is driving the unattended market from your perspective?

The vending industry as a whole faces increased pressure from larger newcomers crossing into the space, like Amazon now competing in many channels to provide ultra-fast, convenient food options, including: Whole Foods with two hour delivery, Amazon Lockers, Amazon Beer Delivery, as well as a host of curated snack delivery startups. Contrast that host of services, payment options, and digital ordering options, with the vending industry’s adoption of credit card enabled vending machines still fighting to break 15 percent.

Q: What are some key trends you are seeing in unattended retail?

Unattended retail is becoming a fixture of our current retail experience, from grocery stores to vending machines, and it’s attracting plenty of attention. Almost all of us have had some type of interaction with unstaffed or unattended retail systems. In fact, according to a study from Consumer Reports, they found that three-quarters of surveyed responders had tried self-checkout or self-service terminals in the past year. The study also found that consumers overwhelmingly enjoyed using these unattended systems — 75 percent of respondents who had tried a self-service terminal said they enjoyed using it because they felt it saved time. And the appetite for more unattended retail seems to be healthy, considering Consumer Reports found that the top complaint among consumers was that retail stores and other merchants did not have enough unattended lanes in their stores.

Q: What does Gimme do specifically to make the vending process easier for operators?

Gimme allows vending operators the ability to track what’s happening in the field, where the cash and inventory are—in real time, via the cloud—without downloading, synchronizing or hand-keying.

Operators can monitor driver movements, visit data and actions in real-time. They can also explore maps of all their machines, send orders, and change planograms with drag-and-drop ease. This technology allows operators to be in command at anytime from anywhere.

Q: What has the impact been for operators who have adopted cashless technologies?

Operators make more money when they add cashless to their vending machines. Operators who have made the wise investment in USAT ePort® cashless acceptance technology can start using Gimme today, without any additional purchase of plug-in wireless hardware. This has made it easier and more cost effective than ever for operators to get rid of the old vending handheld hardware, switch to 100% wireless DEX for service visits, and gain all the benefits of Gimme’s system like seeing vend visits in real-time, large picture planograms of each vending machine, and fewer stock-outs.

Q: Have operators, using your system, seen an impact on their performance as a result of implementing cashless technologies?

The research is clear: add cashless and vending sales increase. Now when you add the inherent ability to get DEX wirelessly via Gimme and a cashless reader, the value of the combined solution is overwhelming. Operators and drivers no longer have to carry any device or install any new hardware to get DEX from their machines. It’s all wireless between USAT and Gimme.

Q: Do you think that cashless technologies will have an impact on consumers?

Yes, absolutely. Many of our customers have vending and unattended retail markets in high schools, colleges and professional buildings. With Gimme helping operators to make sure those machines don’t go empty and USAT’s cashless payment technology opening up the payment options, you can guarantee sales will increase because of how easy it is for consumers to get their favorite snack with whatever payment method they choose.

Q: What is the most exciting thing happening in the unattended space right now?

Micro markets are booming. More options for snacks, drinks, candies, and even fresh food make micro markets an attractive place for any working environment. Although installation of a micro market isn’t simple like a vending machine, the end result is a high quality shopping experience during a break in the work day.

Q: What are your thoughts on mobile payments – are we there yet?

Many people no longer carry cash, but most still carry cards. I don’t think we are quite there yet with mobile payments. Until there becomes a more common area of spending that accepts payment methods like Apple Pay, I don’t think we will see mainstream adoption. That said, I’m thankful to see USAT cashless on Atlanta airport vending machines when I travel, for convenience and have personally adopted the technology. However, until restaurants, bars, and gas stations start consistently accepting those methods, mobile payment adoption has a ways to go.

Millennials are now the largest generation working today, growing past Gen-Xers[1]. With this changing of the guard, the retail landscape is in the middle of its own rebirth, and like Blockbuster and Sears can attest, being an iconic American brand assures no asylum against this disruption. Now that millennials hold the retail purse strings, today’s retailers are faced with a mortal question. What will drive their purchasing decisions? For many, the answer is personalization and authenticity. Personalization is an experience and something that is quickly becoming an expectation throughout the consumer’s journey.

Millennials are also more open to giving out personal information—especially if they get something in return. According to research from Aimia3, half of millennials would share personal details to join a rewards program, while 36 percent of millennials would do so to gain access to a website.

Retail personalization isn’t embroidering monograms onto shirt cuffs or key-ring grocery store loyalty cards. Personalization is about building a connection, a relationship. It’s about self-realization for the retailer to understand who they are and who they are perceived to be. It’s about knowing the customer better than they know themselves in the area where value is provided. It’s the magic of Netflix accurately making individual suggestions to each viewer about shows they’ll love to watch instead of a big network channel playing the same show every Tuesday night to lure some percentage of viewers in a nationwide numbers game. It is critical that retailers integrate personalization into their overall strategy but especially the shopping experience, especially when it comes to millennials. I should know, I’m one of them.

My generation was raised in the digital age. We developed our own content on social media. We used Google and Chegg and college forums to get help with our math homework. We learned how to tie a tie and dice an onion and play a guitar from YouTube videos. Based on what we were recording, reading, and watching personalization become a natural part of all these processes with the comments, links, and next videos being all about us and guessing what we wanted to do next. Our expectation and demand for this to follow us into the real world is unabated. Want a piece of our $200B[2] in retail spending this year? Build us an individually tailored experience. Treat us like some percentage of 323 million? You won’t be relevant in our purchase decision making… you won’t exist.

According to a recentstudy, personalization is a high priority in driving loyalty at the following percentages by generation:

Generation K — 54

Millennials — 52%

Generation X — 48%

Baby boomers — 40%

This isn’t a relationship of unilateral expectations though. We will happily part with personal information if it means getting a tailored experience in return. (Note: for some of my peers, I’m not sure if they realize posting all the details of their life to social media is opt-in). We are a data rich generation, driven by information and data. Want to know our political views, educational background, job experience, Apple vs. Android preference, favorite restaurant/movie/book/color, even a picture of every meal for the last six years? If we haven’t already posted it, we’ll trade you for getting more of what we love sent back our way. You can know everything you want about us in exponential quantity more than was ever wildly plausible with the last generation.

In practical terms, what does this mean for retailers, and more specifically for food retailers? It means the future is grim for big-box, “herd” driven grocery chains. Sorry Kroger. It means on-demand-delivery and bodega-like-mini-stores are the new black, boldly back in vogue. Their future is by no means secure, but they are well-positioned to provide tailored shopping pleasure that Publix is damned to watch from the other side of the hill. We use apps to order deliveries and virtual wallets to pay for them. By doing so, we’re sharing what we like, where we live, which competitors we’re comparing, and the triggers that capitalize on our impulse-buys — the new food retailers are eating all this up! It’s no accident AMEX pings my phone with a California Pizza Kitchen coupon when Apple Maps tracks me driving away from the office at lunch time.

Culturally, logistically, the industry best positioned to take advantage of this retail upheaval is unattended retail. Consider this: grocery stores figuring out how to empty all stores of all employees, except for brief daily visits? Classic vending companies have already solved these problems and are now expanding into brand-new arenas, like operating micro-market stores and kiosks with premium fresh foods, and are enabling phone-based payment acceptance across their entire operations. Throw in the availability of some great new technologies that make it practical for these operators to individually learn each of their customers, their preferences and shopping patterns, and now my phone shows me offers for my favorite snack and the nearest vending machine where to find it, almost magically at the moment I start to think I could go for break… Again, it’s all about personalization.

About the Author:

Cory Hewett isn’t your typical techie startup founder, he’s always had a vision, drive, and an ability to think outside the box. His 10+ years of vending experience began back in high school after his parents told him if he wanted to drive, he’d have to buy his first car. Not only did Cory grow his route to 26 machines, but he eventually hired a close friend to service the machines. When the iPhone released, Cory was first in line (and is still Apple’s biggest fan). This leap forward in technology sparked an idea in his mind: always be connected to my vending machines. Cory ran with this idea and convinced his smart friend Evan to help him develop the technology. They learned from hundreds of vending operators exactly what they were looking for before crafting Gimme into the award-winning technology it is today.